Chicago and Dallas, Nov. 13, 2017 (GLOBE NEWSWIRE) -- Chicago and Dallas (November 13, 2017) -- LoanBeam®, the leader in automated income extraction and calculation, and Guaranteed Rate, one of the largest retail mortgage lenders in the country, announced that it has expanded its long-term relationship to include the recently created Guaranteed Rate Affinity -- a joint venture between Guaranteed Rate and Realogy.
LoanBeam’s technology has combined digital integrations, investor calculations, and refined an Optical Character Recognition (OCR) to read, interpret, and calculate income accurately – the first time – directly from the borrower’s income documents.
“Guaranteed Rate has leveraged LoanBeam to become an industry leader in automated income calculation. We believe that Guaranteed Rate’s continued endorsement of LoanBeam’s income technology speaks volumes to its usefulness as a digital mortgage technology. We are thankful to have the longstanding relationship with a market influencer such as Guaranteed Rate and look forward to extending it into their recent acquisition,” said LoanBeam’s President, Kirk Donaldson.
“LoanBeam’s unique technology has been a huge asset to Guaranteed Rate so it only made sense to bring the same benefits to Guaranteed Rate Affinity, our newly formed joint venture with Realogy,” says Guaranteed Rate Chief Operating Officer Nikolaos Athanasiou. “Cutting-edge technology is absolutely critical to provide our borrowers with the very best customer experience and LoanBeam is one of our technology solutions that helps to make our company so successful.”
About LoanBeam
With patented technology based on more than 15 years in tax preparation and accounting services, LoanBeam has positioned itself as the standard in automatic income calculation amongst market influencers. LoanBeam is leveraging big data partners, advantaged scanning technologies, and patented algorithms to reduce multiple streams of income into a single, easy-to-read, electronic output. The company's headquarters is in Dallas, Texas. For more information, visit www.LoanBeam.com.
About Guaranteed Rate
Guaranteed Rate is one of the largest retail mortgage lenders in the United States. Headquartered in Chicago, the company has approximately 195 offices across the U.S. and Washington, D.C., and is licensed in all 50 states. Since its founding in 2000, Guaranteed Rate has helped hundreds of thousands of homeowners with home purchase loans and refinances and funded nearly $23 billion in loans in 2016 alone. The company has become the Home Purchase Experts® by introducing the world's first Digital Mortgage technology and offering low rate, low fee mortgages through an easy-to-understand process and unparalleled customer service. Guaranteed Rate won an American Business Award for its Digital Mortgage technology in 2016, ranked No. 1 in Scotsman Guide's Top Mortgage Lenders 2016, was chosen Top Lender 2016 and 2017 by Chicago Agent magazine and made the Chicago Tribune's Top Workplaces list seven of the past eight years. Visit rate.com for more information.
About Guaranteed Rate Affinity
Guaranteed Rate Affinity, LLC is a mortgage origination joint venture between Realogy Holdings Corp. (NYSE: RLGY), a global leader in residential real estate franchising and brokerage, and Guaranteed Rate, Inc. one of the largest retail mortgage companies in the United States. The company originates and markets its mortgage lending services to Realogy’s real estate and brokerage and relocation subsidiaries as well as to other real estate brokerage and relocation companies across the country. Guaranteed Rate Affinity also markets its mortgage lending services to a broad consumer audience while leveraging its end-to-end online platform to drive growth in those markets. Guaranteed Rate owns a controlling 50.1% stake of Guaranteed Rate Affinity and Realogy owns 49.9%.
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